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Burma’s Debt Cut ‘Too Soon,’ Group Says

29 January 2013

The UK-based Jubilee Debt Campaign is criticizing the decision by a group of countries to halve Burma’s foreign debt by US $6 billion. The measure means Burma can clear its arrears and take on fresh foreign loans. Campaigners say the decision comes too early as a democratically elected government is not yet in place. They also question whether Burma should take on new loans again. “None of these deals save Burma any money now, but they commit future governments to making payments on debt they inherit. This support for a military dictatorship could bind the hands of a hoped-for future democratic government,” the group said in a statement.